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Walgreens Grand Bay, AL 12550 Us Highway 90 14,403 SF Retail Building Grand Bay, AL 36541 $3,637,500 ($252.55/SF) 6.60% Cap Rate
INVESTMENT HIGHLIGHTS
- ±13.5-year absolute NNN lease with a 5% rent increase every 5 years throughout the term and in each of the twelve 5-year renewal options.
- Mobile, AL MSA Population: 409,988
- Positioned on a hard corner at the signalized intersection of Government Boulevard (5,683 VPD) and AL-188 (8,887 VPD).
EXECUTIVE SUMMARY
CBRE is pleased to exclusively offer for sale the 14,403-square-foot Walgreens situated on 1.63 acres in Grand Bay, AL - a component of the Mobile, AL MSA (MSA Population: 409,988). The site is subject to a ±13.5-year absolute NNN lease with a 5% rent increase every 5 years throughout the term and in each of the twelve 5-year renewal options.
PROPERTY FACTS
Sale Type
Investment NNN
Property Type
Retail
Property Subtype
Drug Store
Building Size
14,403 SF
Building Class
C
Year Built
2007
Price
$3,637,500
Price Per SF
$252.55
Cap Rate
6.60%
NOI
$240,075
Tenancy
Single
Building Height
1 Story
Building FAR
0.20
Lot Size
1.63 AC
Zoning
C
Frontage
489’ on Grand Bay Wilmer Road
AMENITIES
- Pylon Sign
- Restaurant
- Signage
- Signalized Intersection
- Drive Thru
PROPERTY TAXES
| Parcel Number | 36-07-36-3-000-008 | Improvements Assessment | $398,080 |
| Land Assessment | $46,780 | Total Assessment | $444,860 |
PROPERTY TAXES
Parcel Number
36-07-36-3-000-008
Land Assessment
$46,780
Improvements Assessment
$398,080
Total Assessment
$444,860
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Walgreens Grand Bay, AL | 12550 Us Highway 90
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